2022 was a pivotal year for Verimatrix in which we initiated the execution of a transformation plan which should lead the Group towards a profitable recurring revenues structure.

In this respect, the trend in our results stands as an initial source of satisfaction and reflects the Group’s ongoing transformation. Driven by the success of the new Anti-Piracy and Threat Defense offers, revenue generation from subscription sales has grown steadily, with ARR showing a fifth consecutive quarter of growth at the end of the year.

With demand for scalable cybersecurity and data protection solutions on the rise, our new offer provides solutions adapted to the needs of existing and future customers.

Since July 2022 Asaf Ashkenazi has been appointed Chief Executive Officer of Verimatrix while I continue my role of the Executive Chairman to assure continuity in our fast-evolving technology and markets. This new governance will reinforce our capacity to place Verimatrix as a strong leader in providing Cloud Based Security Solutions.

With a new commercial dynamic, an operational structure that allows us to maintain our profitability and a cash position of over 30 million dollars, the Group is equipped with the resources necessary for its development. The transformation is under-way and I know that I can count once again in 2023 on the full involvement of the Group’s employees.

April 2023